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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis

The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis using the input categories discussed in Note 1:   

			As of June 30, 2024
			Level 1						Level 2						Level 3						Total
Cash equivalents
Money market funds			411.3						—						—						411.3
Corporate notes and obligations			—						2.7						—						2.7
U.S. Treasury securities			—						0.1						—						0.1
Total cash equivalents			$	411.3					$	2.8					$	—					$	414.1
Short-term investments
Corporate notes and obligations			—						293.4						—						293.4
U.S. Treasury securities			—						140.7						—						140.7
Asset backed securities			—						49.7						—						49.7
Municipal securities			—						36.5						—						36.5
Commercial paper			—						14.6						—						14.6
Certificates of deposit			—						5.4						—						5.4
U.S. agency obligations			—						3.5						—						3.5
Foreign government obligations			—						1.9						—						1.9
Supranational securities			—						1.7						—						1.7
Total short-term investments			—						547.4						—						547.4
Total			$	411.3					$	550.2					$	—					$	961.5

			As of December 31, 2023
			Level 1						Level 2						Level 3						Total
Cash equivalents
Money market funds			$	514.8					$	—					$	—					$	514.8
U.S. Treasury securities			—						10.0						—						10.0
Commercial paper			—						4.4						—						4.4
Corporate notes and obligations			—						2.9						—						2.9
Certificates of deposit			—						1.3						—						1.3
Municipal securities			—						0.2						—						0.2
Total cash equivalents			$	514.8					$	18.8					$	—					$	533.6
Short-term investments
Corporate notes and obligations			—						349.7						—						349.7
U.S. Treasury securities			—						225.3						—						225.3
Asset backed securities			—						70.0						—						70.0
Municipal securities			—						46.3						—						46.3
Commercial paper			—						30.7						—						30.7
Certificates of deposit			—						8.4						—						8.4
U.S. agency obligations			—						5.7						—						5.7
Foreign government obligations			—						3.3						—						3.3
Supranational securities			—						1.7						—						1.7
Total short-term investments			—						741.1						—						741.1
Total			$	514.8					$	759.9					$	—					$	1,274.7

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- References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

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